This month we bring you three key updates to Gift Aid, including an increase in the individual gift limit for the Gift Aid small donations scheme (GASDS), new HMRC preferences on names, and a reminder about church finances/taxes being a team sport.
We have put together a selection of resources to help you succeed in your Gift Aid endeavours, including HMRC’s model Gift Aid Declarations, and guidance on the Gift Aid Small Donations Scheme; tax relief for higher earners; time limits for claiming Gift Aid; errors and pitfalls in handling donations, and more.
In this quarter's edition of Share Magazine, we referenced the following articles, blogs and briefing papers:
Stewardship has over 25 years’ experience of mortgage lending to Christian churches and charities, our experience of the quality and clarity of applications is variable from exceptional to most lacking. In this blog, we explore four main themes that applicants should consider...
At Stewardship, we are often asked questions like “Should our church register for VAT” or “Can our church reclaim VAT”. This blog focuses on one area that many churches needlessly pay VAT – when renting premises for church activities.
HMRC are very keen to ensure that Gift Aid donors are paying enough tax. In recent times, they have come under pressure from the National Audit Office and the Public Accounts Committee to take steps to reduce the amount of Gift Aid incorrectly claimed.
In this quarter's edition of Share Magazine, we referenced the following articles, blogs and briefing papers:
In general terms a ‘gift’ is something freely given, with no expectation of anything in return. If something is received in return, either contractually or as a reciprocal benefit, the ‘gift’ is not actually a gift.
In Share 32, we referenced a number of briefing papers and blogs for further reading. You'll find links to them inside.
HMRC has launched a new online service, allowing charities to apply for recognition as a ‘tax charity’. Recognition as a charity by HMRC is entirely separate from registration with the Charity Commission, OSCR or CCNI and is required by law, if the charity is to benefit from tax reliefs such as Gift Aid.
blogs by the Stewardship team and selected guest writers.
Stewardship is the operating name of Stewardship Services (UKET) Limited. Established in 1906.
Registered charity no. 234714, and a company limited by guarantee, registered in England no. 90305.
Registered office: 1 Lamb's Passage, London EC1Y 8AB
Website design and build by Adept
